MRD: Market Requirements Document

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A document written by the product manager that strategically defines the demand and requirements for a product. The MRD includes the product vision, target market, user personas , and potential revenues for the product.

MVP: Minimum Viable Product
This is a product in its early stages of development that has just enough features to fulfill the product idea. Even with the minimum number of features, the sooner you can attract customers to your product, the sooner you can receive feedback and improve in future iterations.

Model
Mockups are realistic physical drawings or models of your product, but they do not have the function. They are a visual representation of what the team envisions for the product.

MRR: Monthly Recurring Revenue
The calculation of the revenue generated each month, or, all ongoing revenue divided by a monthly number.

N
Search for needs
Identify the areas where your customers need a solution. This requires knowing your customers and empathizing with them to get to the problems they face and how your product could fill that gap.

NPS: Net Promoter Score
This is the method of using a simple survey to determine customer satisfaction with your product. Repeatedly pr directors email list asking customers to rate your product on a scale of 0 to 10 at various stages of the customer journey can help you get a more general or detailed score.

EITHER
OKRs: Objectives and Key Results
Similar to KPIs, Objectives and Key Results are used to measure the outcomes of your product, but OKRs are based on setting clear objectives or goals to be monitored and evaluated along with a set time frame.